In my line of work a lot of potential clients have been cheated out of their money.
So naturally, they want to sue for fraud.
I have to explain to them that the elements of fraud are 1) the making of a statement, 2) the falsity of the statement, 3) an intent to deceive, called "scienter", 4) reasonable reliance on the
statement by the injured party and 5) injury sustained as the result of the reliance.
To make it easier, Fraud is when someone makes a false statement to deceive you into doing something and then you lost money.
However, I always have to explain to my clients that fraud is in the moment you agree to do something, like loan them money.
If you loaned someone money, they would have to needed to intend to defraud you at the time you decided to make that loan.
Which means for fraud to be a viable cause of action, that person would have always intended to not pay you back.
If they intended to pay you back at the moment you loaned them the money, there is no fraud.
Again, the question of if there was fraud exists in the moment you decide to act and what the alleged fraudulent person intended at that exact moment.
Thank you for reading, my business is to protect your business!
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